Shareholding StructureEquity Chart of Bangchak Corporation Plc. and Other Companies

The complex refinery of Bangchak operates with a nameplate capacity of 120,000 barrels per day (120 KBD). The majority of the outputs are gasoline and diesel. The quality of its gasohol and diesel products meets the public sector’s Euro 4 standard. Bangchak focuses on energy stability in its processes by using electricity and steam derived from its cogeneration power plant while replacing fuel oil with cleaner-burning natural gas. It raises the efficiency of its refining processes with the implementation of its 3E, YES-R and Rocket Projects.

BCP Trading Pte. Ltd. (BCPT)

Incorporated in Singapore with a registered capital of US$1 million wholly owned, BCPT engages in commodity trading including crude oil, petroleum products, petrochemicals, other chemical products, and other downstream businesses.

Bongkot Marine Service Co., Ltd. (BONGKOT)

This joint-venture enterprise has a registered capital of Baht 240 million, in which Bangchak holds 30%. It engages in supplying and administration of floating storage units.

Fuel Pipeline Transportation Ltd. (FPT)

With a registered capital of Baht 3.66 billion, in which Bangchak holds 4.95%, FPT operates underground pipeline fuel transport. The multiproduct pipeline is laid parallel to the railway route from Bangchak Refinery to Don Muang International Airport Oil Depot via Chong Nonsi Oil Depot and ends at Bangchak’s oil depot in Bang Pa-in, Ayutthaya, and at FPT. A pipeline connection with the system of JP-One Asset Co., Ltd., made at the Makkasan area in Bangkok, supplies aviation fuels to Suvarnabhumi International Airport. FPI’s oil transmission pipeline system expansion project from Amphoe Bang Pa-in to the north (Lampang) has obtained EIA approval from the Office of Natural Resources and Environmental Policy and Planning as well as the approval to construct an oil transmission pipeline system in the related agencies’ areas, covering the whole project construction areas. The project’s Pichit and Lampang oil depots are under construction. It is scheduled to commence commercial operations in early 2019.

The Marketing Business Group sells fuels and lubricants to consumers through Bangchak’s network of 1,175 service stations nationwide, made up of 555 standard and 620 community service stations, as of December 2018. To provide convenience to customers, the stations offer supplementary (non-oil) businesses under the operation of Bangchak Retail Co., Ltd., which also distributes products to industrial users together with the transport, airlines, vessels, construction, and agriculture sectors.

Bangchak Green Net Co., Ltd. (BGN)

Incorporated with Baht 1 million in registered capital, in which Bangchak holds 49%, BGN engages in service station administration and sales management of consumer products at Baichak and Lemon Green outlets.

Bangchak Retail Co., Ltd. (BCR)

This wholly-owned subsidiary of Bangchak has Baht 800 million in registered capital. BCR engages in the food and drinks business to accommodate continuous growth in the retail business. BCR has been given the Master Franchise of the SPAR supermarket brand of the Netherlands and now has 45 retail outlets under the SPAR brand, over 522 Inthanin and Inthanin Garden premium coffee shops, and other supplementary businesses. This year BCR has signed an agreement giving the right to master franchise and Inthanin coffee shops in Laos and Cambodia to RCG Retail Co., Ltd. (Cambodia).

Oam Suk Social Enterprise Co., Ltd.

With an initial registered capital of Baht 10 million, in which Bangchak holds 40%, the company engages in the purchase of agricultural produce and organic crops for processing, marketing, distribution, and R&D.

Bangchak invests in the renewable-power business by holding 70.11% equity in BCPG Public Company Limited (BCPG), a SET-listed company. Its IPO took place on September 28, 2016. BCPG engages in investments in the power generation business from green energy sources (both domestic and overseas), such as solar, wind, and geothermal power projects.

BCPG Public Company Limited (BCPG)

Incorporated with a registered capital of Baht 10 billion, BCPG engages and invests in the green power business (domestic and overseas). At the end of 2018, BCPG’s capacities are as follows:

Wind farm project in the Philippines with an equity capacity of 20 MW (14.4 MW on production)

Geothermal power project in Indonesia with an equity capacity of 181.5 MW (157.5 MW on production)

This year BCPG acquired 100% common share in Lom Ligor Co., Ltd., to invest in a wind farm project for power generation with a contractual capacity of 9 MW. Located in Amphoe Pak Phanang, Nakhon Si Thammarat, the facilities are under construction, with scheduled COD in mid-2019.

Well aware of the significance of renewable energy in reducing trade deficits from imported fuels, enhancing national energy security, supporting farmers and conserving the environment, Bangchak advocates the blending of ethanol and biodiesel with gasoline and diesel with diesel to form Gasohol 91 and Gasohol 95, Gasohol E20, and Gasohol E85, together with Hi Diesel. Bangchak invests in bio-based products through shareholding in BBGI Plc. (BBGI).

BBGI Plc. (BBGI)

BBGI was incorporated through a amalgamation between BBP Holdings Co., Ltd. (BBH), a subsidiary of Bangchak, and KSL GI Co., Ltd. (KSLGI), a subsidiary of Khon Kaen Sugar Industry Plc. with a registered capital of Baht 2.532 billion, in which Bangchak holds 60%. The name was changed from BBGI Co., Ltd., to BBGI Plc. in April this year. The largest biofuel producer and distributor in Thailand, BBGI’s total capacity exceeds 1,830,000 liters a day, comprising 900,000 liters a day of ethanol and 930,000 liters a day of biodiesel. The four subsidiaries of BBGI are described below:

Bangchak Biofuel Co., Ltd. (BBF)

Established with Baht 281.5 million in registered capital, in which BBGI holds 70%, BBF engages in the production of biodiesel from crude palm oil, a basic raw material, with the nameplate capacity raised to 930,000 liters a day. The company is located in Bang Pa-in, next to Bangchak’s oil depot in Ayutthaya.

Bangchak Bioethanol (Chachoengsao) Co., Ltd. (BBE)

BBE has a registered capital of Baht 500 million, in which BBGI holds 85%. Located in Amphoe Phanom Sarakham, Chachoengsao, it produces 99.5% ethanol from fresh cassava and cassava chips with a capacity of 150,000 liters a day.

KSL Green Innovation Plc. (KGI)

KGI is wholly owned by BBGI with a registered capital of Baht 610 million. It engages in the production and distribution of ethanol based on molasses derived from the sugar manufacturing process. KGI’s two ethanol manufacturers now operate with a total capacity of 350,000 liters per day: 200,000 liters per day from a plant in Amphoe Bo Phloi, Kanchanaburi, and the other 150,000 liters per day from a plant in Amphoe Nam Phong, Khon Kaen. Moreover, KGI’s biogas power plant generates power from the biogas derived from wastewater treatment from the ethanol process.

Ubon Bio Ethanol Co., Ltd. (UBE)

UBE was incorporated with a registered capital of Baht 3.91 billion, in which BBGI holds 21.28%. Located in Amphoe Na Yia, Ubon Ratchathani, it engages in ethanol production using fresh cassava, cassava chips, and molasses as feedstock with a capacity of 400,000 liters a day. UBE’s subsidiary also engages in processing cassava into flour and generating power from the biogas derived from wastewater treatment from the flour and ethanol processes.

Bangchak founded BCPR Co., Ltd., in Thailand, BCP Energy International Pte. Ltd., and BCPR Pte. Ltd., in Singapore to engage in energy, petrochemical, and natural resources businesses, and BCP Innovation Pte. Ltd., incorporated in Singapore, to engage in innovation businesses overseas by investing in Lithium Americas Corp., a listed company on the Canadian Securities Exchange, undertaking lithium mining businesses in Argentina and the USA.

BCP Energy International Pte. Ltd. (BCPE)

Wholly owned by Bangchak and established in Singapore with a registered capital of US$112.5 million, BCPE engages in energy, petrochemical, and natural resources businesses overseas and now invests 100% through the common shares of Nido Petroleum Pty. Ltd.

BCP Innovation Pte. Ltd. (BCPI)

BCPI has a registered capital of US$41.8 million, wholly owned by Bangchak. Incorporated in Singapore to engage in overseas innovation businesses relating to energy, petrochemical, and natural resources, BCPI now invests 15.86% through common shares in Lithium Americas Corp.

BCPR Co., Ltd. (BCPR)

BCPR, Bangchak wholly-owned subsidiary, was incorporated in Thailand on July 12, 2018, with a registered capital of Baht 661 million (consisting of 6.61 million shares at Baht 100 par value per share). It engages in natural resources businesses and has invested in BCPR Pte. Ltd., a company established in Singapore, for joint investment in OKEA ASA, which operates petroleum development and production in Norway.

Nido Petroleum Pty. Ltd. (Nido)

Nido engages in the petroleum exploration and production business with an investment focus on Southeast Asia. It holds rights in producing oil fields, namely Nido and Matinloc, along with rights in fields under development and exploration, namely West Linapacan, and rights in fields under exploration, namely SC6B, SC14D, SC54A, SC54B, SC58, and SC63, all in the Philippines.

On July 12, 2018, BCPE, Bangchak’s subsidiary, signed a share purchase agreement with Tamarind Galoc Pte. Ltd., for its entire 55.8% ownership of the Galoc oil field in the Philippines held by its indirect subsidiary, Nido Production (Galoc) Pty. Ltd., for a total value of US$20 million (660 million baht).

Lithium Americas Corp. (LAC)

LAC, listed on the Toronto Stock Exchange, Canada, has since January 25, 2018, been on New York Stock Exchange, USA. LAC engages in the lithium mining business to produce lithium carbonate and lithium hydroxide, which are essential raw materials for batteries for various products with robust trends, namely electric vehicles, energy storage systems, and mobile electronic appliances.

LAC is developing two lithium mines in Argentina and the USA. The Argentina project is under the development of Minera Exar S.A., and lithium carbonate production is expected in 2020 for a capacity of 25,000 tons per year, whereas the USA lithium mining project is under development by Lithium Nevada Corp. On August 2, 2018, LAC disclosed the outcome of the feasibility study of the project, which indicated the mineral reserves, estimated capital, and the production cost. In addition, an affiliated RheoMinerals Inc. (formerly Hectatone Inc.) has produced organoclay for petroleum exploration and production drilling with a maximum capacity of 10,000 tons per year since 2015.

BCPR Pte. Ltd.

BCPR Pte. Ltd., was incorporated in Singapore on July 12, 2018, with a registered capital of US$ 18.2 million, wholly owned by Bangchak. BCPR Pte. Ltd., engages in energy, petrochemical, and natural resources businesses overseas and currently invests in OKEA ASA, a company incorporated under the laws of Norway and engages in local petroleum development and production.

OKEA ASA

OKEA ASA, incorporated under the laws of Norway, engages in domestic petroleum development and production. BCPR Pte. Ltd., Bangchak’s subsidiary, holds 49.33% of OKEA ASA’s share. OKEA ASA holds the right in Draugen Oil Field and Gjøa Oil Field in Norway and has been the operator of Draugen Field since December 1, 2018.

To pursue the position of the leading Asian Greenovative group, Bangchak expands its investment in new energy innovation such as lithium, used in the manufacturing of batteries for electrical vehicles (EVs) and in bio-based products to add value to its current biofuel products. This year Bangchak set up four more venture-capital companies to engage in 10 domestic startup businesses promoted by the government.

BCV Bio Based Co., Ltd. (BCVB)

BCVB, wholly owned by Bangchak, was incorporated with a registered capital of Baht 20 million to engage in the venture capital business for funding domestic startup companies in bio-product innovation.

BCV Energy Co., Ltd. (BCVE)

BCVE, wholly owned by Bangchak, was incorporated with a registered capital of Baht 20 million to engage in the venture capital business for funding domestic startups relating to energy innovation.

BCV Innovation Co., Ltd. (BCVI)

BCVI, wholly owned by Bangchak, was incorporated with a registered capital of Baht 20 million to engage in the venture capital business for funding domestic startups relating to innovation.

BCV Partnership Co., Ltd. (BCVP)

BCVP, wholly owned by Bangchak, was incorporated with a registered capital of Baht 20 million to engage in the venture capital business for funding domestic startups relating to innovation in collaboration with the public and private sectors.